UK Statutory Instrument
1986
United Kingdom
The Insolvency Rules 1986
At a glance
Enforced by
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
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Browse 770 other sections — procedural / definitional / commencement
Citation and commencement
Construction and interpretation
Extent
Scope of this Part; interpretation
Preparation of proposal
Summoning of meetings under s. 3
Preparation of proposal and notice to nominee
Summoning of meetings
The chairman at meetings
The chairman as proxy-holder
Attendance by company officers
Voting rights (creditors)
Voting rights (members)
Requisite majorities (creditors)
Preparation of proposal
Requisite majorities (members)
Proceedings to obtain agreement on the proposal
Resolutions to follow approval
Hand-over of property
Report of meetings
Revocation or suspension of the arrangement
Supervisor's accounts and reports
Production of accounts and records to Secretary of State
Fees, costs, charges and expenses
Completion of the arrangement
Contents of proposal
False representations,
Notice to intended nominee
Statement of affairs
Additional disclosure for assistance of nominee
Nominee's report on the proposal
Replacement of nominee
Summoning of meetings under s. 3
Affidavit to support petition
Notice and advertisement of administration order
Notice requiring statement of affairs
Verification and filing
Limited disclosure
Release from duty to submit statement of affairs; extension of time
Expenses of statement of affairs
Statement to be annexed to proposals
Notice to members of proposals to creditors
Meeting to consider administrator's proposals
Creditors' meetings generally
Independent report on company's affairs
The chairman at meetings
Meeting requisitioned by creditors
Entitlement to vote
Admission and rejection of claims
Secured creditors
Holders of negotiable instruments
Retention of title creditors
Hire-purchase, conditional sale and chattel leasing agreements
Resolutions and minutes
Reports and notices under sections 23 and 25
Contents of affidavit
Notices to creditors
Venue and conduct of company meeting
Constitution of committee
Formalities of establishment
Functions and meetings of the committee
The chairman at meetings
Quorum
Committee-members' representatives
Resignation
Termination of membership
Form of petition
Removal
Vacancies
Procedure at meetings
Resolutions by post
Information from administrator
Expenses of members
Members' dealings with the company
Formal defects
Fixing of remuneration
Recourse to meeting of creditors
Recourse to the court
Filing of petition
Creditors' claim that remuneration is excessive
Disposal of charged property, etc
Abstract of receipts and payments
Resignation
Administrator deceased
Order filling vacancy
Issue of certificate of insolvency
Notice to creditors
Preservation of certificate with company's records
Service of petition
Notice to sheriff, etc
Manner in which service to be effected
Proof of service
The hearing
Acceptance and confirmation of acceptance of appointment
The chairman at the meeting
Voting rights
Admission and rejection of claim
Quorum
Adjournment
Resolutions and minutes
Constitution of committee
Formalities of establishment
Functions and meetings of the committee
The chairman at meetings
Notice and advertisement of appointment
Quorum
Committee-members' representatives
Resignation
Termination of membership
Removal
Vacancies
Procedure at meetings
Resolutions by post
Information from receiver
Expenses of members
Notice requiring statement of affairs
Members' dealings with the company
Formal defects
Disposal of charged property
Abstract of receipts and payments
Resignation
Receiver deceased
Vacation of office
Issue of certificate of insolvency
Notice to creditors
Preservation of certificate with company's records
Verification and filing
Limited disclosure
Release from duty to submit statement of affairs; extension of time
Expenses of statement of affairs
Report to creditors
Procedure for summoning meeting under s.48(2)
Voluntary winding up; winding up by the court
Other persons to receive copies of petition
Appointment by creditors or contributories
Power to fill vacancy in office of liquidator
Appointment by creditors or by the company
Appointment by the court
Appointment by the court
Appointment by Secretary of State
Authentication of liquidator's appointment
Appointment to be advertised and registered
Hand-over of assets to liquidator
Creditors' meeting to receive liquidator's resignation
Action following acceptance of resignation
Advertisement of petition
Action following acceptance of resignation
Leave to resign granted by the court
Advertisement of resignation
Meeting of creditors to remove liquidator
Meeting of creditors to remove liquidator
Court's power to regulate meetings under Rules 4.113, 4.114-CVL
Procedure on removal
Procedure on removal
Advertisement of removal
Removal of liquidator by the court
Verification of petition
Removal of liquidator by the court
Release of resigning or removed liquidator
Release of resigning or removed liquidator
Removal of liquidator by Secretary of State
Release of official receiver
Final meeting
Final meeting
Fixing of remuneration
Other matters affecting remuneration
Recourse of liquidator to meeting of creditors
Persons entitled to copy of petition
Recourse to the court
Creditors' claim that remuneration is excessive
Liquidator deceased
Liquidator deceased
Loss of qualification as insolvency practitioner
Loss of qualification as insolvency practitioner
Vacation of office on making of winding-up order
Notice to official receiver of intention to vacate office (NO CVL APPLICATION)
Liquidator's duties on vacating office
Appointment by the company
Certificate of compliance
Appointment by the court
Authentication of liquidator's appointment
Company meeting to receive liquidator's resignation
Removal of liquidator by the court
Release of resigning or removed liquidator
Liquidator deceased
Loss of qualification as insolvency practitioner
Vacation of office on making of winding-up order
Liquidator's duties on vacating office
Remuneration of liquidator in members' voluntary winding up
Power of court to set aside certain transactions
Leave for petitioner to withdraw
Rule against solicitation
Preliminary
Membership of committee
Formalities of establishment
Committee established by contributories
Obligations of liquidator to committee
Meetings of the committee
The chairman at meetings
Quorum
Committee-members' representatives
Notice of appearance
Resignation
Termination of membership
Removal
Vacancy (creditor members)
Vacancy (contributory members)
Voting rights and resolutions
Voting rights and resolutions
Resolutions by post
Liquidator's reports
Expenses of members, etc
List of appearances
Dealings by committee-members and others
Composition of committee when creditors paid in full
Committee's functions vested in Secretary of State
Formal defects
Preliminary
Continuation of creditors' committee
Membership of committee
Liquidator's certificate
Obligations of liquidator to committee
Application of Chapter 12
General duties of liquidator
Affidavit in opposition
Manner of distributing assets
Debts of insolvent company to rank equally
Supplementary provisions as to dividend
Distribution in members' voluntary winding up (NO CVL APPLICATION)
Division of unsold assets
General powers of liquidator
Enforced delivery up of company's property
Final distribution
Liquidator's notice of disclaimer
Communication of disclaimer to persons interested
Additional notices
Substitution of creditor or contributory for petitioner
Duty to keep court informed
Application by interested party under s.178(5)
Interest in property to be declared on request
Disclaimer presumed valid and effective
Application for exercise of court's powers under s. 181
Preliminary
Duty of liquidator to settle list
Form of list
Procedure for settling list
Application to court for variation of the list
Winding up by the court: the various forms of petition (NO CVL APPLICATION)
Notice and settling of winding-up order
Variation of, or addition to, the list
Costs not to fall on official receiver
Calls by liquidator
Control by liquidation committee
Application to court for leave to make a call
Making and enforcement of the call
Appointment and remuneration
Security
Failure to give or keep up security
Accounting
Transmission and advertisement of order
Termination of appointment
Order for public examination
Notice of hearing
Order on request by creditors or contributories
Witness unfit for examination
Procedure at hearing
Adjournment
Expenses of examination
General rule as to priority
Winding up commencing as voluntary
Expenses of voluntary arrangement
Presentation and service of petition
Saving for powers of the court
Application to court for order authorising return
Procedure for return
Statements to registrar of companies under s.192
Secretary of State's directions under ss.203, 205
Procedure following appeal under s.203(4) or 205(4)
Preliminary
Application for leave under s.216(3)
First excepted case
Second excepted case
Return of petition
Third excepted case
Application of Rules in Chapter 3
Appointment of provisional liquidator
Notice of appointment
Order of appointment
Deposit
Security
Failure to give or keep up security
Time-limits
Remuneration
Termination of appointment
Notice requiring statement of affairs
Verification and filing
Copy statement of affairs
Statement of affairs
Limited disclosure
Release from duty to submit statement of affairs; extension of time
Expenses of statement of affairs
Expenses of statement of affairs
Submission of accounts
Preliminary
Submission of accounts
Expenses of preparing accounts
Further disclosure
Reports by official receiver
Meaning of “creditors”
Report where statement of affairs lodged
Statement of affairs dispensed with
General rule as to reporting
Winding up stayed
Further information where liquidation follows administration
Information to creditors and contributories
Form and content of statutory demand
First meetings
First meeting of creditors
Business at first meetings in the liquidation
Effect of adjournment of company meeting
Report by director, etc.
Business at meeting under s. 95 or 98
General power to call meetings
The chairman at meetings
The chairman at meetings
Requisitioned meetings
Attendance at meetings of company's personnel
Notice of meetings by advertisement only
Information to be given in statutory demand
Venue
Expenses of summoning meetings
Expenses of meeting under s. 98
Resolutions
Chairman of meeting as proxy-holder
Suspension and adjournment
Quorum
Entitlement to vote (creditors)
Chairman's discretion to allow vote
Entitlement to vote (contributories)
Presentation and filing of petition
Admission and rejection of proof (creditors' meeting)
Record of proceedings
Additional provisions as regards certain meetings
Meaning of “prove”
Supply of forms
Contents of proof
Particulars of creditor's claim
Claim established by affidavit
Cost of proving
Liquidator to allow inspection of proofs
Service of petition
Transmission of proofs to liquidator
New liquidator appointed
Admission and rejection of proofs for dividend
Appeal against decision on proof
Withdrawal or variation of proof
Expunging of proof by the court
Estimate of quantum
Negotiable instruments, etc
Secured creditors
Discounts
Proof of service
Mutual credit and set-off
Debt in foreign currency
Payments of a periodical nature
Interest
Debt payable at future time
Value of security
Surrender for non-disclosure
Redemption by liquidator
Test of security's value
Realisation of security by creditor
(1) The Rules in this Part apply where a debtor,...
Nominee's report on the proposal
Replacement of nominee
Consideration of nominee's report
Summoning of creditors' meeting
Creditors' meeting, supplementary
The chairman at the meeting
The chairman as proxy-holder
Voting rights
Requisite majorities
Proceedings to obtain agreement on the proposal
Preparation of proposal
Resolutions to follow approval
Hand-over of property, etc. to supervisor
Report of creditors' meeting
Register of voluntary arrangements
Reports to Secretary of State
Revocation or suspension of the arrangement
Supervisor's accounts and reports
Production of accounts and records to Secretary of State
Fees, costs, charges and expenses
Completion of the arrangement
Contents of proposal
False representations, etc
Notice to intended nominee
Application for interim order
Court in which application to be made
Hearing of the application
Action to follow making of order
Statement of affairs
Additional disclosure for assistance of nominee
Form and content of statutory demand
Procedure for presentation and filing
Cost of proving
Trustee to allow inspection of proofs
Proof of licensed moneylender
Transmission of proofs to trustee
Admission and rejection of proofs for dividend
Appeal against decision on proof
Withdrawal or variation of proof
Expunging of proof by the court
Negotiable instruments, etc
Secured creditors
Proof of service of statutory demand
Discounts
Debt in foreign currency
Payments of a periodical nature
Interest
Debt payable at future time
Value of security
Surrender for non-disclosure
Redemption by trustee
Test of security's value
Realisation of security by creditor
Verification of petition
Appointment by creditors' meeting
Appointment by the court
Appointment by Secretary of State
Authentication of trustee's appointment
Advertisement of appointment
Hand-over of estate to trustee
Creditors' meeting to receive trustee's resignation
Action following acceptance of resignation
Leave to resign granted by the court
Meeting of creditors to remove trustee
Notice to Chief Land Registrar
Court's power to regulate meeting under Rule 6.129
Procedure on removal
Removal of trustee by the court
Removal of trustee by Secretary of State
Advertisement of resignation or removal
Release of resigning or removed trustee
Release of official receiver
Final meeting of creditors
Fixing of remuneration
Other matters affecting remuneration
Service of petition
Recourse of trustee to meeting of creditors
Recourse to the court
Creditor's claim that remuneration is excessive
Trustee deceased
Loss of qualification as insolvency practitioner
Notice to official receiver of intention to vacate office
Trustee's duties on vacating office
Power of court to set aside certain transactions
Rule against solicitation
Enforcement of trustee's obligations to official receiver
Proof of service
Membership of creditors' committee
Formalities of establishment
Obligations of trustee to committee
Meetings of the committee
The chairman at meetings
Quorum
Committee-members' representatives
Resignation
Termination of membership
Removal
Death of debtor before service
Vacancies
Voting rights and resolutions
Resolutions by post
Trustee's reports
Expenses of members etc
Dealings by committee-members and others
Committee's functions vested in Secretary of State
Appointment and remuneration
Security
Failure to give or keep up security
Security for costs (s. 268(2) only)
Accounting
Termination of appointment
Order for public examination
Order on request by creditors
Bankrupt unfit for examination
Procedure at hearing
Adjournment
Expenses of examination
Trustee's notice of disclaimer
Communication of disclaimer to persons interested
Hearing of petition
Additional notices
Duty to keep court informed
Application for leave to disclaim
Application by interested party under s. 316
Interest in property to be declared on request
Disclaimer presumed valid and effective
Application for exercise of court's powers under s.320
Purchase of replacement property
Money provided in lieu of sale
Application for order
Petition against two or more debtors
Action to follow making of order
Variation of order
Order to payor of income: administration
Review of order
Application for order
Making and service of the order
Custody of documents
Claim by mortgagee of land
Power of court to order sale
Proceeds of sale
Information to be given in statutory demand
Petition by moneylender
Duties of bankrupt in respect of after-acquired property
Trustee's recourse to disponee of property
Expenses of getting in property for the estate
Application for leave
Report of official receiver
Court's order on application
Application for annulment
Report by trustee
Power of court to stay proceedings
Notice to creditors who have not proved
Petition opposed by debtor
The hearing
Matters to be proved under s.282(1)(b)
Notice to creditors
Annulment under section 261
Other matters arising on annulment
Trustee's final account
Application for suspension of discharge
Lifting of suspension of discharge
Application by bankrupt for discharge
Report of official receiver
Order of discharge on application
Amendment of petition
Certificate of discharge
Deferment of issue of order pending appeal
Costs under this Chapter
Bankrupt's debts surviving discharge
General rule as to priority
Scope of this Chapter
General duty of existing trustee
Delivery up to later trustee
Existing trustee's expenses
Presentation of petition
Notice by persons intending to appear
Status and functions of Official Petitioner
Interim receivership
Proof of bankruptcy debts and notice of order
Meetings under the Rules
Trustee in bankruptcy; creditors' committee; annulment of bankruptcy order
Bankruptcy of solicitors
Consolidation of petitions
Bankrupt's dwelling-house and home
List of appearances
Decision on the hearing
Non-appearance of creditor
Vacating registration on dismissal of petition
Extension of time for hearing
Adjournment
Requirements as to service
Substitution of petitioner
Change of carriage of petition
Petitioner seeking dismissal or leave to withdraw
Settlement and content of bankruptcy order
Action to follow making of order
Amendment of title of proceedings
Old bankruptcy notices
Preliminary
Identification of debtor
Admission of insolvency
Application to set aside statutory demand
Court in which petition to be filed
Statement of affairs
Procedure for presentation and filing
Notice to Chief Land Registrar
Report of insolvency practitioner
Settlement and content of bankruptcy order
Action to follow making of order
Expenses of voluntary arrangement
Amendment of title of proceedings
Certificate of summary administration
Duty of official receiver in summary administration
Hearing of application to set aside
Revocation of certificate of summary administration
Application for appointment of interim receiver
Order of appointment
Deposit
Security
Failure to give or keep up security
Remuneration
Termination of appointment
Preliminary
The statement of affairs
Preliminary
Verification and filing
Limited disclosure
Release from duty to submit statement of affairs; extension of time
Expenses of statement of affairs
Requirement to submit accounts
Submission and filing of accounts
Further disclosure
Preliminary
Contents of statement
Requirement to submit accounts
Identification of debtor
Submission and filing of accounts
Expenses of preparing accounts
Further disclosure
General duty of official receiver
Those entitled to be informed
Report where statement of affairs lodged
Statement of affairs dispensed with
General rule as to reporting
Bankruptcy order annulled
First meeting of creditors
Identification of debt
Business at first meeting
General power to call meetings
The chairman at a meeting
Requisitioned meetings
Attendance at meeting of bankrupt, etc
Notice of meetings by advertisement only
Venue of meetings
Expenses of summoning meetings
Resolutions
Chairman of meeting as proxy-holder
Court in which petition to be presented
Suspension of meeting
Adjournment
Quorum
Entitlement to vote
Admission and rejection of proof
Record of proceedings
Meaning of “prove”
Supply of forms
Contents of proof
Claim established by affidavit
Preliminary
Adjournment of hearing; directions
General power of transfer
Proceedings commenced in wrong court
Applications for transfer
Procedure following order for transfer
Consequential transfer of other proceedings
Nomination and appointment of shorthand writers
Remuneration
Cost of shorthand note
Enforcement of court orders
Interpretation
Orders enforcing compliance with the Rules
Warrants (general provisions)
Warrants under ss.134, 364
Warrants under ss.236, 366
Execution of warrants outside court's district
Warrants under s.365
Title of proceedings
Court records
Inspection of records
Returns to Secretary of State
Form and contents of application
File of court proceedings
Right to inspect the file
Filing of Gazette notices and advertisements
Application of Rules of Supreme Court and County Court Rules
Requirement to tax costs
Procedure where taxation required
Costs of sheriff
Petitions presented by insolvents
Costs paid otherwise than out of the insolvent estate
Award of costs against official receiver or responsible insolvency practitioner
Filing and service of application
Applications for costs
Costs and expenses of witnesses
Certificate of taxation
Introductory
Appointment of another person to act
Affidavit in support of application
Service of notices following appointment
Appeals and reviews of court orders (winding up)
Appeals in bankruptcy
Procedure on appeal
Other hearings ex parte
Appeal against decision of Secretary of State or official receiver
Principal court rules and practice to apply
Right of audience
Right of attendance (company insolvency)
Insolvency practitioner's solicitor
Formal defects
Restriction on concurrent proceedings and remedies
Affidavits
Security in court
Payment into court
Hearing of application
Discovery
Office copies of documents
Use of affidavit evidence
Filing and service of affidavits
Use of reports
Definition of “proxy”
Issue and use of forms
Use of proxies at meetings
Retention of proxies
Right of inspection
Proxy-holder with financial interest
Company representation
Preliminary
Form and contents of application
Order for examination, etc
Procedure for examination
Record of examination
Costs of proceedings under ss.236, 366
Appointment of official receivers
Persons entitled to act on official receiver's behalf
Application for directions
Official receiver's expenses
Preliminary
Disqualification from dividend
Assignment of right to dividend
Preferential creditors
Debt payable at future time
Notice of intended dividend
Final admission/rejection of proofs
Postponement or cancellation of dividend
Decision to declare dividend
Notice of declaration
Notice of no, or no further, dividend
Proof altered after payment of dividend
Secured creditors
Power of Secretary of State to regulate certain matters
Service by post
General provisions as to service
Service outside the jurisdiction
Confidentiality of documents
Notices sent simultaneously to the same person
Right to copy documents
Charge for copy documents
Non-receipt of notice of meeting
Right to have list of creditors
False claim of status as creditor, etc
Execution overtaken by judgment debtor's insolvency
Costs, expenses, etc
The Gazette
Punishment of offences
Provable debts
Notices
Quorum at meeting of creditors or contributories
Evidence of proceedings at meetings
Documents issuing from Secretary of State
Forms for use in insolvency proceedings
Insolvency practitioner's security
Time-limits
Introductory
“Petitioner”
“The appropriate fee”
“Debt”, “liability” (winding up)
Expressions used generally
Application
“The court”; “the registrar”
“Give notice”, etc
Notice, etc. to solicitors
Notice to joint liquidators, joint trustees, etc
“Venue”
“Insolvency proceedings”
“Insolvent estate”
“Responsible insolvency practitioner”, etc
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
The Insolvency Service
Administers compulsory company liquidations and personal bankruptcies. Investigates director misconduct and can seek disqualification orders. Manages redundancy payments from the National Insurance …
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